Hong Kong regulator directs Worldcoin to stop operations citing privateness considerations

A Hong Kong regulator on Wednesday served an enforcement discover to Worldcoin Basis directing it to stop all operations of the cryptocurrency venture within the nation, citing threat to privateness and private knowledge.

The Workplace of the Privateness Commissioner for Private Knowledge (PCPD) added that Worldcoin ought to cease scanning and accumulating iris and face photos of the general public utilizing its gadgets. It additionally dubbed the information assortment as “pointless and extreme”.

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Worldcoin encourages individuals to have their irises scanned by its “orb” gadgets, in trade for a digital ID and free cryptocurrency. Greater than 5 million individuals in over 160 nations have signed as much as have their irises scanned, based on its web site. However the venture has drawn criticism over the gathering, storage and use of non-public knowledge.

Worldcoin Basis mentioned it was “upset by the views launched by the regulatory authorities in Hong Kong”.

“Worldcoin operates lawfully and is designed to be absolutely compliant with all legal guidelines and rules governing knowledge assortment and use, together with the Private Knowledge (Privateness) Ordinance of Hong Kong, amongst many different related statutes throughout different markets,” it mentioned in an emailed assertion.

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Worldcoin, co-founded by OpenAI CEO Sam Altman, says its goal is to create a world identification and monetary community akin to India’s Aadhaar biometric ID system, suggesting on its web site quite a lot of formidable use circumstances, together with distinguishing individuals from synthetic intelligence bots.

Regulators all over the world, significantly in European nations, have expressed concern that the database may very well be misused. (Reporting by Manya Saini and Jaiveer Singh Shekhawat in Bengaluru; Modifying by Shailesh Kuber and Mrigank Dhaniwala)



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